Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 974.165

    An interest (the first interest ) is an interest that will or may convert into another interest (the second interest ) if:

  (a)   the first interest, or a part of the first interest, must be or may be converted into the second interest; or

  (b)   the first interest, or a part of the first interest, must be or may be redeemed, repaid or satisfied by:

  (i)   the issue or transfer of the second interest (whether to the holder of the first interest or to some other person); or

  (ii)   the acquisition of the second interest (whether by the holder of the first interest or by some other person); or

  (iii)   the application in or towards paying - up (in whole or in part) the balance unpaid on the second interest (whether the second interest is to be issued to the holder of the first interest or to some other person); or

  (c)   the holder of the first interest has, or is to have, a right or option to have allotted or transferred to the holder or to some other person, or for the holder or some other person otherwise to acquire:

  (i)   the second interest; or

  (ii)   a right or option to acquire the second interest.

Table of Subdivisions

975 - A   General

975 - G   What is a company's share capital account?

975 - W   Wholly - owned groups of companies

Table of sections

975 - 150   Position to affect rights in relation to a company

975 - 155   When is an entity a controller (for CGT purposes) of a company?

975 - 160   When an entity has an associate - inclusive control interest